Fujairah’s fuel oil stocks decline 18% coming into February

Fujairah’s residual fuel oil inventories have averaged 18% lower so far this month compared to January, according to the latest data from Fujairah Oil Industry Zone (FOIZ) and S&P Global.

Changes in monthly average Fujairah stocks from January to February (so far):

• Heavy distillate and residual stocks down 1.83 million bbls to 8.39 million bbls
• Middle distillate stocks up 371,000 bbls to 3.33 million bbls

Fujairah’s heavy distillate and residual fuel oil inventories have fallen below 9 million bbls, reaching their lowest level since October.

So far this month, the Middle Eastern bunker hub has imported 250,000 b/d of fuel oil, down from 305,000 b/d in January, according to cargo tracker Vortexa. Of these imports, Iran (40%) and Russia (33%) accounted for the largest shares, while Iraq (21%) supplied the remainder.

Meanwhile, fuel oil exports from Fujairah declined sharply by 90,000 b/d to just 26,000 b/d. Mauritius (75%) and Oman (25%) received most of these export volumes.

In contrast, middle distillate inventories in Fujairah have increased, averaging 13% higher than last month.

Against this backdrop, prompt bunker availability in Fujairah remains tight across all fuel grades, with suppliers recommending lead times of 5–7 days.

By Tuhin Roy

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